1 PRIME MINISTER OYUN-ERDENE VISITS EGIIN GOL HYDROPOWER PLANT PROJECT SITE WWW.MONTSAME.MN PUBLISHED:2025/04/30      2 ‘I FELT CAUGHT BETWEEN CULTURES’: MONGOLIAN MUSICIAN ENJI ON HER BEGUILING, BORDER-CROSSING MUSIC WWW.THEGUARDIAN.COM PUBLISHED:2025/04/30      3 POWER OF SIBERIA 2: ECONOMIC OPPORTUNITY OR GEOPOLITICAL RISK FOR MONGOLIA? WWW.THEDIPLOMAT.COM PUBLISHED:2025/04/29      4 UNITED AIRLINES TO LAUNCH FLIGHTS TO MONGOLIA IN MAY WWW.MONTSAME.MN PUBLISHED:2025/04/29      5 SIGNATURE OF OIL SALES AGREEMENT FOR BLOCK XX PRODUCTION WWW.RESEARCH-TREE.COM  PUBLISHED:2025/04/29      6 MONGOLIA ISSUES E-VISAS TO 11,575 FOREIGNERS IN Q1 WWW.XINHUANET.COM PUBLISHED:2025/04/29      7 KOREA AN IDEAL PARTNER TO HELP MONGOLIA GROW, SEOUL'S ENVOY SAYS WWW.KOREAJOONGANGDAILY.JOINS.COM  PUBLISHED:2025/04/29      8 MONGOLIA TO HOST THE 30TH ANNUAL GENERAL MEETING OF ASIA SECURITIES FORUM WWW.MONTSAME.MN PUBLISHED:2025/04/29      9 BAGAKHANGAI-KHUSHIG VALLEY RAILWAY PROJECT LAUNCHES WWW.UBPOST.MN PUBLISHED:2025/04/29      10 THE MONGOLIAN BUSINESS ENVIRONMENT AND FDI: CHALLENGES AND OPPORTUNITY WWW.MELVILLEDALAI.COM  PUBLISHED:2025/04/28      849 ТЭРБУМЫН ӨРТӨГТЭЙ "ГАШУУНСУХАЙТ-ГАНЦМОД" БООМТЫН ТЭЗҮ-Д ТУРШЛАГАГҮЙ, МОНГОЛ 2 КОМПАНИ ҮНИЙН САНАЛ ИРҮҮЛЭВ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     ХУУЛЬ БУСААР АШИГЛАЖ БАЙСАН "БОГД УУЛ" СУВИЛЛЫГ НИЙСЛЭЛ ӨМЧЛӨЛДӨӨ БУЦААВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/30     МЕТРО БАРИХ ТӨСЛИЙГ ГҮЙЦЭТГЭХЭЭР САНАЛАА ӨГСӨН МОНГОЛЫН ГУРВАН КОМПАНИ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     "UPC RENEWABLES" КОМПАНИТАЙ ХАМТРАН 2400 МВТ-ЫН ХҮЧИН ЧАДАЛТАЙ САЛХИН ЦАХИЛГААН СТАНЦ БАРИХААР БОЛОВ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     ОРОСЫН МОНГОЛ УЛС ДАХЬ ТОМООХОН ТӨСЛҮҮД ДЭЭР “ГАР БАРИХ” СОНИРХОЛ БА АМБИЦ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     МОНГОЛ, АНУ-ЫН ХООРОНД ТАВДУГААР САРЫН 1-НЭЭС НИСЛЭГ ҮЙЛДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     ЕРӨНХИЙ САЙД Л.ОЮУН-ЭРДЭНЭ ЭГИЙН ГОЛЫН УЦС-ЫН ТӨСЛИЙН ТАЛБАЙД АЖИЛЛАЖ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     Ц.ТОД-ЭРДЭНЭ: БИЧИГТ БООМТЫН ЕРӨНХИЙ ТӨЛӨВЛӨГӨӨ БАТЛАГДВАЛ БУСАД БҮТЭЭН БАЙГУУЛАЛТЫН АЖЛУУД ЭХЛЭХ БОЛОМЖ БҮРДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     MCS-ИЙН ХОЁР ДАХЬ “УХАА ХУДАГ”: БНХАУ, АВСТРАЛИТАЙ ХАМТРАН ЭЗЭМШДЭГ БАРУУН НАРАНГИЙН ХАЙГУУЛЫГ УЛСЫН ТӨСВӨӨР ХИЙЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29     АМ.ДОЛЛАРЫН ХАНШ ТОГТВОРЖИЖ 3595 ТӨГРӨГ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29    

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Events

Events

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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ADB, Invescore Sign $10 Million Loan to Boost MSME Growth in Mongolia www.adb.org

The Asian Development Bank (ADB) and Invescore NBFI JSC have signed a $10 million loan to support job creation and sustainable development in Mongolia by helping improve access to finance for micro, small, and medium-sized enterprises (MSMEs).
The financial package comprises $5 million from ADB’s ordinary capital resources and a further $5 million in B-loans with ADB as the lender on record. A portion of the $5 million A-loan from ADB is expected to be disbursed in togrog. At least 30% of the funds are earmarked for women-owned MSMEs.
“MSMEs play a vital economic role in Mongolia, but they find it hard to access credit so they can invest in their growth and make an even greater contribution,” said ADB Director General for Private Sector Operations Suzanne Gaboury. “By supporting Mongolia’s nonbank financial institution (NBFI) sector, ADB’s assistance will help to improve access to finance for these businesses, and support job creation and inclusive growth in the country.”
MSMEs have a critical role in the sustainable development of Mongolia’s economy, employing 72% of the workforce and accounting for 18% of gross domestic product. Their potential to generate even more jobs and wealth is hamstrung by limited access to finance. ADB’s loan to Invescore, its first direct loan to an NBFI in Mongolia, will help improve the company’s funding profile and support its expansion of finance to MSMEs, especially those run by women.
“As a leader in the nonbanking sector, we aspire to lead by example, operating responsibly and promoting sustainable finance by supporting socially and environmentally responsible customers,” said Invescore NBFI Chief Executive Officer Bayasgalan Dalaijamts. “Aligned with our aspiration, I am very much delighted and looking forward that Invescore will be contributing to the development of MSMEs in Mongolia with the financing and assistance from ADB.”
Invescore was established in 2016 and became the largest NBFI in Mongolia. As of the end of 2022, the company has total assets of 356.3 billion togrog, with 15 branches in the capital Ulaanbaatar and 1 in the city of Erdenet in northern Mongolia.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
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Zeolite, Gold&Copper, REE, Graphite, Natural spring water, Land management, Tourist camp, Construction material and Cashmere related B2B/Investment opportunity offers posted www.mongolianbusinessdatabase.com

As noticed last week, MBD started to post the selected business offers on its website and the "B2B offers, Ads and events" section at the bottom of the news bulletin according to its criteria and long-lasting business correspondence/relations with direct owners of the businesses.
You can review the newly added Zeolite, Gold&Copper, REE, Graphite, Natural spring water potential deposits, Land management in UB or/and the area close to UB, Tourist camp development, construction material sales, and Cashmere product related B2B offers and investment/financing business opportunities in the following section and may send your EOI by mail or contact us for information in detail.
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Elixir Energy Eyes Production of Green Hydrogen in Mongolia and Piping it Next Door to China www.hydrogen-central.com

Elixir Energy eyes production of green hydrogen in Mongolia and piping it next door to China.
Elixir Energy Ltd (ASX:EXR) is focused on developing Gobi H2 – Mongolia’s first green hydrogen project (i.e. one where hydrogen is produced from renewable electrical energy sources).
The company’s rationale behind the Gobi H2 project is that producing green hydrogen in Mongolia and piping it to China is more energy efficient than transmitting power to China for hydrogen production.
hydrogen central advertise
The strength of the concept behind the project was demonstrated in mid-2022 when Elixir announced the signing of a memorandum of understanding (MOU) over Gobi H2 with Japan’s SB Energy Corp (now Terras Energy – 85% owned by Toyota Tsusho Corp).
Elixir procured a pre-feasibility study (PFS) from global consulting firm AECOM earlier this year to give the parties the confidence to advance the project – they are now aiming to enter into a binding JV later this year.
The PFS evaluated various configurations of wind, solar, battery and a grid connection to support a 10 MW (megawatt) electrolyser located at a site proximate to Terras Energy’s existing operated wind farm in the South Gobi region.
Emerging regional hydrogen infrastructure
The location of the Gobi H2 project provides ready access to the rapidly growing Chinese hydrogen markets.
Elixir commissioned a ‘Hydrogen in China’ market study from global energy consultants Rystad Energy which concluded “the scale of ramp up will likely open up imports from beneficial production sites like Elixir’s”.
Regional hydrogen transmission infrastructure is already emerging, including Sinopec’s recent announcement of a 400-kilometre hydrogen pipeline in inner Mongolia.
Advantages of pipeline
Around two-thirds of the cost of producing green hydrogen is the cost of renewables.
Elixir commissioned a ‘Hydrogen in China’ market study from global energy consultants Rystad Energy which concluded “the scale of ramp up will likely open up imports from beneficial production sites like Elixir’s”.
Regional hydrogen transmission infrastructure is already emerging, including Sinopec’s recent announcement of a 400-kilometre hydrogen pipeline in inner Mongolia.
Advantages of pipeline
Around two-thirds of the cost of producing green hydrogen is the cost of renewables.
Hydrogen has traditionally only been used in niche markets such as oil refineries – and has generally been produced from fossil fuels, with resultant large CO2 emissions.
The more recent pursuit of green and blue hydrogen (the latter is still derived from fossil fuels but the CO2 emissions are captured and stored underground) is driven solely by emission reduction aims.
Globally this is recognized by emerging standards that must be met for hydrogen to be deemed green or blue – each major jurisdiction is developing its own rules, but these are converging towards targets based on maximum CO2 emissions per kg of H2 produced.
Unless a green H2 project can meet these targets – it does not meet its intrinsic aims.
Projects which involve grid connections to electricity systems with still significant fossil fuel use (especially for production on the margin) may well struggle to be deemed green.
Elixir’s analysis illustrates that the Gobi H2 pilot project meets the green definitions of the main global jurisdictions – including China.
This will be critical to procure customers and project finance support.
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Foreign Ministries of Mongolia and Estonia hold political consultations in Ulaanbaatar www.akipress.com

The third political consultation between the Ministry of Foreign Affairs of Mongolia and the Ministry of Foreign Affairs of Estonia took place in Ulaanbaatar on June 13. The meeting was chaired by Director of the European Department Battungalag Ganhuurai from the Mongolian side and Director of Asia and the Pacific Region DepartmentMati Murd from the Estonian side.
The sides exchanged views on the issues of e-government, information technology, economy, culture and tourism with the aim of expanding and strengthening relations and cooperation between Mongolia and Estonia.
The sides confirmed readiness to carry out mutual visits at the highest level, increase the frequency of political dialogues, intensify cooperation in areas of mutual interest, such as the economy, culture and transport, and maintain business ties.
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Special APB Series on Mongolian Affairs www.eastwestcenter.org

To mark the start of the 8th International Conference of the Ulaanbaatar Dialogue on Northeast Asian Security, The East West Center in Washington has brought together an eminent group of scholars and experts on Mongolian Affairs. This special series touches upon US-Mongolian relations, the importance of the Ulaanbaatar Dialogue, and other pertinent economic and social issues.
A Mongolian Perspective of the US Indo-Pacific Strategy:
Mr. Tsogtgerel Nyamtseren & Dr. Mendee Jargalsaikhan, respectively a Research Fellow and the Dean of Research at the Institute for Strategic Studies of Mongolia, explore the questions of "why Mongolia’s importance has waned in the overall Free and Open Indo-Pacific (FOIP) strategies and if there is any room for Mongolia to collaborate with FOIP countries."
US-Mongolia Relations: Standing Strong as Third Neighbors
Michael Klecheski, a retired US Department of State Foreign Service Officer who previously served as the US Ambassador to Mongolia, a Director at the National Security Council, and held posts at US embassies in Russia and the Philippines, explains that "the current strength of US-Mongolia ties is of prime importance" as "growing Sino-Russian rapprochement raises new concerns about Mongolia’s ability to continue its balancing role with those two countries."
How the Ulaanbaatar Dialogue on Northeast Asian Security Serves as a Conflict Resolution Platform
Bolor Lkhaajav, Researcher specializing in Mongolia and Northeast Asia at The Diplomat and Founder of MONUS.Ed mentorship program, explains that "Mongolia’s geostrategic position, coupled with its democratic institutions and non-nuclear-weapons (NNW), status makes Ulaanbaatar a stable actor uniquely positioned to advance regional conflict resolution mechanisms."
Resource Management in Mongolia: Missed Opportunities and Future Prospects
Richard Pomfret, Senior Adjunct Professor in International Economics at the Johns Hopkins University and Professor of Economics Emeritus at the University of Adelaide, explains that while Mongolia is successfully balancing the influences of Russia and China, "the country has been less successful in exploiting its mineral resources and its location in the Eurasian transport network."
Progress on Women’s Economic Empowerment in Mongolia
Tsolmontuya Altankhundaga, Project Manager of The Asia Foundation Mongolia's women's economic empowerment programs, explains that "In Mongolia, significant strides have been made in advancing the status of women in various sectors of the economy as well as in government and civil society more broadly."
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Diving into Energy Regulation Reform with Mongolia's Energy Sector www.azcc.gov

Director Doug Clark and Commissioner Kevin Thompson from the Arizona Corporation Commission welcomed a Mongolian Energy delegation, led by Batuul Tumurkhuyag and Mac Wodicker of ASU's Laboratory for Energy and Power Solutions. Dialogue consisted of a comparative analysis of national energy systems and the landscape of energy regulation, policy, and tariff setting in Arizona.
Since its inception in 2001, the Mongolian Energy Commission has faced unique challenges due to the lack of an energy market in their country. Instead, energy costs are calculated by square meterage of a dwelling, as opposed to consumption-based pricing. The meeting shed light on Mongolia's vertically integrated energy sector and how non-market-based systems pose a barrier to renewable energy ambitions.
To increase economic competitiveness, create a more stable and secure domestic energy supply, and develop more renewable energy projects; USAID has launched a $12 million Mongolia Energy Governance Project aimed at bolstering supportive interventions in the energy sector transition. As part of our ongoing commitment, Ryan Anderson and Nikki Farha from Commissioner Thompson’s office offered ongoing assistance to the Mongolian delegation in strengthening their energy regulatory systems.
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Mongolian Armed Forces attend Airmen-to-Airmen talk at Pacific Air Forces www.15wing.af.mil

Pacific Air Forces hosted members of the Mongolian Armed Forces Air Force Command at the PACAF headquarters building on Joint Base Pearl Harbor-Hickam, Hawaii, as part of a mutual exchange known as Airman-to-Airman Talks (A2AT) from May 22-26.
The purpose of A2ATs is to facilitate discussions between the U.S. and other countries in the region to improve both parties by sharing best practices, and to build stronger relationships through collaboration and planning.
“This is the first engagement together post COVID, so meeting in person was extremely important,” said William Riggle, Pacific Air Forces International Affairs Division country desk officer to Mongolia. “We really wanted to focus on the relationship building aspect to ensure we can maximize the benefits of future endeavors together.”
Throughout the week, members from each delegation led working groups focused on operations, logistics, medical and other relevant topics.
“Working groups were critical during the Airman-to-Airman Talks because they helped to structure our way forward,” said Riggle. “By having focused sessions, we built the foundational understanding needed to collaborate further and learn how we do it better, and how to do it together.”
Overall, the talks were productive for both sides, explained Riggle. The U.S. and Mongolia are situated for more lucrative bilateral exchanges in the future.
Airmen from PACAF host multiple exchanges, exercises, and conferences throughout the year with Allies and partners to align knowledge and skills that enhance interoperable capabilities. The next engagement between the U.S. and Mongolia is slated to be during a Pacific Angel training exercise later this year.
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Using AI for loans and mortgages is big risk, warns EU boss www.bbc.com

Discrimination is a more pressing concern from advancing artificial intelligence than human extinction, says the EU's competition chief.
Margrethe Vestager told the BBC "guardrails" were needed to counter the technology's biggest risks.
She said this was key where AI is being used to help make decisions that can affect someone's livelihood, such as whether they can apply for a mortgage.
The European Parliament will vote on its proposed AI rules on Wednesday.
The AI Act is being considered by politicians amid warnings over developing the tech - which enables computers to perform tasks typically requiring human intelligence - too quickly.
Some experts have warned that AI could lead to the extinction of humanity.
In an exclusive interview with the BBC, Ms Vestager said AI's potential to amplify bias or discrimination, which can be contained in the vast amounts of data sourced from the internet and used to train models and tools, was a more pressing concern.
"Probably [the risk of extinction] may exist, but I think the likelihood is quite small. I think the AI risks are more that people will be discriminated [against], they will not be seen as who they are.
"If it's a bank using it to decide whether I can get a mortgage or not, or if it's social services on your municipality, then you want to make sure that you're not being discriminated [against] because of your gender or your colour or your postal code," she said.
On Tuesday, Ireland's data protection authority said it had put Google's planned EU roll-out of its AI chatbot Bard on hold.
It said it had been informed by Google that its ChatGPT competitor would be introduced in the EU this week, but was yet to receive details or information showing how the firm had identified and minimised data protection risks to prospective users.
Deputy Commissioner Graham Doyle said the DPC was seeking the information "as a matter of urgency" and had raised further data protection enquiries about it with Google.
'A UN approach'
Ms Vestager, who is the European Commission's executive vice president, said AI regulation needs to be a "global affair".
She insisted a consensus among "like-minded" countries should be prioritised before getting more jurisdictions, such as China, on board.
"Let's start working on a UN approach. But we shouldn't hold our breath," she said.
"We should do what we can here and now."
Ms Vestager is spearheading EU efforts to create a voluntary code of conduct with the US government, which would see companies using or developing AI sign up to a set of standards that are not legally binding.
Being 'pragmatic'
The current draft of the AI Act seeks to categorise applications of AI into levels of risk to consumers, with AI-enabled video games or spam filters falling into the lowest risk category.
High-risk AI systems include those that are used to evaluate credit scores or access to loans and housing. This is where the focus of strict controls on the tech will be.
But as AI continues to develop quickly, Ms Vestager said there was a need to be pragmatic when it comes to fine-tuning rules around this technology.
"It's better to get, let's say 80% now than 100% never, so let's get started and then return when we learn and then correct with others," she said.
Ms Vestager said there was "definitely a risk" that AI could be used to influence the next elections.
She said the challenge for police and intelligence services would be to be "fully on top" of a criminal sector where there is a risk they get ahead in the race to utilise the tech.
"If your social feed can be scanned to get a thorough profile of you, the risk of being manipulated is just enormous," she said, "and if we end up in a situation where we believe nothing, then we have undermined our society completely."
Many tech leaders and researchers signed a letter in March calling for a pause in the development of AI systems more powerful than OpenAI's GPT-4.
But Ms Vestager said this was not realistic.
"No-one can enforce it. No-one can make sure that everyone is on board," she said, pointing out that a pause could be used by some as an opportunity to get ahead of competitors.
"What I think is important is that every developer knows that everyone has signed up for the same guardrails so that no-one takes excessive risks."
Facial recognition
The European Parliament's proposals for the AI Act seek to restrict the use of biometric identification systems and indiscriminate collection of user data from social media or CCTV footage for purposes such as facial recognition systems.
However, Ms Vestager said: "We want to put in strict guardrails so that it's not used in real-time, but only in specific circumstances where you're looking for a missing child or there's a terrorist fleeing.
"The Parliament has a much more principled position that they will vote on tomorrow to basically ban it completely."
Before the AI Act can become finalised as the world's first rulebook on the use and development of AI systems, the EU's three branches of power: the Commission, Parliament and Council will all have to agree on its final version.
It is not expected to come into effect before 2025.
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Pioneer Award: Bank of Mongolia Central Banking (FinTech RegTech Global Awards 2023) www.centralbanking.com

The Bank of Mongolia’s big data project collects granular data from all banks in its jurisdiction, daily, using a single data model that covers statistical, regulatory and business requirements. The new dataset includes green taxonomy, merchant category code, management gender, postcode and International Standard Industrial Classification of All Economic Activities, in addition to traditional financial data. With this initiative, the banking sector in Mongolia enters a new data era, enabling banks to develop digital loan products and improve cashflow, while providing regulators with real-time, accurate data.
“At midnight, banks run their end-of-day batch payment processing, with larger banks taking up to six hours and smaller banks taking close to half an hour to complete,” Byadran Lkhagvasuren, governor of the Bank of Mongolia, tells Central Banking. “Once this process is completed, we automatically pull data and process it, ready to be viewed at 9:00am with our morning coffee.” In 2021, the central bank began a knowledge exchange partnership with the Bank of Korea and Sangmyung University in Seoul, which helped it develop a big data road map and a more thorough understanding of what it wanted to achieve and how to achieve it. With the launch, 200 banking industry employees were reassigned from data preparation to other tasks, resulting in a significant cost reduction. “With multiple departments at banks involved in the data reporting process, and different departments at the central bank receiving the data at various levels, consistency between the received data and reports were difficult to maintain,” says Lkhagvasuren. Now, 61 template-based reports covering more than 200 sheets have been consolidated into a unified data model, and the average time lag of official statistics has been reduced from 17 days to one. “We don’t have to burden the banks with data preparation. Instead, we take all the responsibility for data preparation on ourselves,” says Lkhagvasuren. The central bank used to receive four gigabytes of data each year from the banks. Today, it estimates the platform will collect 17 terabytes of data annually. The big data platform uses a staging database in a parallel warehouse that is kept on the central bank’s premises and transmits encrypted data through a closed-circuit connection to supervisors and banks on a shared platform. “From data generation and collection to data compilation and dissemination through our official website, application programming interface, dashboards and other sources, our whole process is fully automated, with little to no human intervention.” The team visited banks in person to convince them of the merits of the project and sharing detailed data. “We had the opportunity to ‘grassroot’ the project from the bottom up and really make the banks believe in the project,” says Lkhagvasuren. The Bank of Mongolia can now also conduct more comprehensive stress-testing. Previously, the central bank could only look at accumulated risk on an aggregate level. “Now, we can delve deeper into cases such as a shock in the agricultural sector,” says Lkhagvasuren. End-users can dissect, aggregate and analyse data patterns, without compromising individual privacy. The Bank of Mongolia is now working to develop new suptech tools in three areas: creating new (early-warning) indicators and improving nowcasting models; conducting detailed stress tests on household debt in the banking sector; and creating a fraud detection alert system.
 
 
 
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Inner Mongolia land port sees surge in China-Europe freight trains www.gov.cn

Erenhot City, a major land port in north China's Inner Mongolia Autonomous Region, saw a sharp surge in China-Europe freight train trips in the first five months of 2023 to the tune of 1,285, up 15.87 percent year on year.

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